TeraWulf (NASDAQ:WULF) Shares Down 4.8% – Here’s What Happened

TeraWulf Inc. (NASDAQ:WULF) shares fell 4.8% during mid-day trading on Thursday . The stock traded as low as $5.83 and last traded at $5.89. 25,370,539 shares traded hands during trading, a decline of 24% from the average session volume of 33,525,895 shares. The stock had previously closed at $6.18.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WULF. Needham & Company LLC reaffirmed a “buy” rating and set a $9.50 price objective on shares of TeraWulf in a report on Monday, January 13th. B. Riley upped their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of TeraWulf in a report on Monday, January 6th. Stifel Canada cut TeraWulf from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, October 29th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $10.00 price objective on shares of TeraWulf in a report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Stock Up 9.4 %

The stock’s fifty day moving average price is $6.76 and its 200 day moving average price is $5.53.

Hedge Funds Weigh In On TeraWulf

A number of institutional investors have recently modified their holdings of the stock. GoalVest Advisory LLC purchased a new position in shares of TeraWulf during the fourth quarter worth approximately $651,000. SG Americas Securities LLC increased its position in shares of TeraWulf by 51.7% during the fourth quarter. SG Americas Securities LLC now owns 122,725 shares of the company’s stock worth $695,000 after acquiring an additional 41,826 shares during the period. Evolution Wealth Advisors LLC purchased a new position in shares of TeraWulf during the fourth quarter worth approximately $95,000. XML Financial LLC purchased a new position in shares of TeraWulf during the fourth quarter worth approximately $85,000. Finally, ARS Investment Partners LLC increased its position in shares of TeraWulf by 20.0% during the fourth quarter. ARS Investment Partners LLC now owns 12,000 shares of the company’s stock worth $68,000 after acquiring an additional 2,000 shares during the period. 62.49% of the stock is owned by hedge funds and other institutional investors.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.